A Short Guide To Flood Insurance

Flooding is one of the most prevalent and costly natural disasters in the United States. Most homeowners will have to deal with flooding at some point and those living in coastal states may face it multiple times. When flooding occurs, it can be financially devastating, usually costing individual homeowners anywhere from $2000 to $5000 to repair the damage. It is not uncommon for homeowners to pay up to $25,000 in especially devastating cases. Luckily, you can obtain flood insurance to protect you from the financial damages of flooding.

What Is Flood Insurance?

Flood insurance is a type of insurance coverage that is designed to pick up the bill after you face flood damage. It can pay for repairs, replacement, and even temporary lodging if your home isn’t fit to live in due to flooding. Flood insurance is typically not included with standard homeowners’ insurance so you’ll have to purchase a separate policy.

How Much Does Flood Insurance Cost?

The cost of flood insurance can vary widely.  Insurance companies will look at a variety of factors when deciding how much to charge you. Some of the things they consider are:

  • Your location
  • Your claim history
  • Your proximity to any major bodies of water
  • Your home’s elevation

No one wants to deal with flooding and the damage that comes with it. Luckily, flood insurance can help make that process much easier and far less financially damaging.

The Sought-After Benefits That Could Help Your Company Draw In Talented New Employees

Has your company been searching for exciting ways to draw in top talent and bring talented new employees on board? If so, you may want to take this opportunity to review your current employee benefits package. By offering certain sought-after benefits, you may be able to make your business stand out from the competition. Here are some of the top benefits to consider adding to your starting packages.

Extra Financial Benefits, Bonuses and Regular Incentives

Perhaps the most effective benefits you can offer to prospective employees are financial benefits. Offering bonuses, incentives and more can help you draw in and also retain talented workers. Consider putting the following on the table:

  • Longevity bonuses
  • Mid-year or year-end bonuses
  • Company-sponsored savings plans
  • Retirement plan matches
  • Incentives for productivity and work output
  • Company stock options

Well-Being Benefits and Additional Leave and Family Perks

Benefits that support employees’ well-being or personal lives can round out attractive offer packages. Some perks to consider adding in could include:

  • Paid family leave
  • Paid sick leave
  • Memberships for gyms or wellness programs
  • Healthy in-office snacks
  • Company-sponsored insurance plans
  • Paid vacation time every year

Offering top-notch, highly sought-after employee benefits is one way to make your company stand out in the hiring field. If you’re currently hoping to bring new and talented employees on board, consider offering these additional financial and well-being benefits in your starting packages.

A Short Guide To Courier Insurance

Working as a courier can be a great way to make a living.  However, this field is not without risk.  There are many potential risks to consider, including liability issues, potential property damage, and more.  Luckily, courier insurance can help cover your back in case something unexpectedly goes wrong.

What Is Courier Insurance?

Courier insurance is a category of insurance coverage that is designed to protect couriers from the risks they face on a daily basis.  It can cover a variety of things including legal costs, repair/replacement costs, and medical bills.  Courier insurance will require you to pay a small monthly premium but it is a small price to pay for peace of mind.

What Types of Coverage Can You Get With Courier Insurance?

There are many types of coverage that you can obtain with courier insurance.  Some of the most popular coverage types are:

How Much Does Courier Insurance Cost?

Unfortunately, there is no one set price for courier insurance.  The price you will pay is determined by a number of factors that the insurance company will look at.  Some of these factors are:

  • Your location
  • Your claim history
  • The amount of coverage you need

Working as a courier can open you up to a certain amount of risk.  Courier insurance can help.

How To Protect Your Business From Future Surprises

When you run a business, it is important to take time and consider all of the risks that you’re likely to encounter. By thinking over these hazards, you will have a better time formulating a plan to protect yourself. Typically, the easiest way to accomplish this is by taking out the most appropriate insurance coverage. While having a General Liability policy is a great start, there are plenty of specific risks that you will need to consider in order to feel totally shielded from harm.

Review the Basics

There are a few key factors to think about when it comes to USLI insurance. Essentially, appropriate United States Liability Insurance reflects the exact risks that a business owner may experience in his or her industry. For example, companies situated on or near the water will usually need to consider coverage options that businesses located further inland don’t have to ever think over. Additionally, businesses in niche industries often require policy options that may not seem obvious at first. Working with professionals can provide you with in-depth insight into the matter. General options include: 

  • Workers’ compensation coverage
  • Directors and officers protections 
  • Errors and omissions liability

Research Your Options

Protecting your business is far from a difficult endeavor when you know how to get the process started. Review all of your options and see how to put together an insurance policy that exceeds all of your expectations.

3 Reasons Why Libraries Should End Late Fees

Failing to return a library book almost always results in a late fee. Fortunately, many libraries are making the switch to fee-free resource rental, as a growing number of institutions argue that eliminating fees has more pros than cons.

1. Better Reputation

The fact that everyone associates late fees with libraries doesn’t exactly make them the most popular of public venues. Instead, it gives the public the impression that libraries are exclusive clubs with no interest in serving anyone who cannot commit to making it back to the library by a certain date, much less at the risk of facing a financial penalty for tardiness.

2. Negligible Impact

Studies suggest that library fees do not affect the financial bottom line of the average library, nor are they a sustainable way to earn revenue. In addition, the threat of fees doesn’t seem to increase the likelihood of a book being returned. Instead, fees just limit who can and cannot access library resources, thereby decreasing actual growth opportunities.

3. More Utilization

Fewer barriers to a resource mean greater utilization of that resource. When patrons do not have to fear any financial repercussions of checking out library sources, they are more likely to take those items home and encourage others to do the same.

Libraries have begun to embrace the removal of fines for late or lost items. Since fees disproportionately harm those whose access to resources is already limited, ending library book fines is a major step toward better community equity.

Enhance Your DO Policy With an Appropriate Hammer Clause

There are many different steps you need to consider when it comes to protecting your business and its assets. Though you might understand that the right insurance plan makes a world of difference toward your long-term success, you may not be familiar with some of the specific options available to you. In order to stay shielded from the unknown, you may want to take a moment to learn more about how a hammer clause in certain policies can be useful. When you want to enhance the coverage for your directors and officers, this is an option worth consideration.

What Is a Hammer Clause?

The main point to understand about hammer clause in D&O is that it is structured to handle any claims that might occur between the insurer and the insured. Since such disagreements happen all the time, you want to be certain that you are totally protected no matter what is on the horizon. A quality plan for insurance should address all industry risks, as well as any specifics that are unique to your exact organization. Areas to focus on can include:

  • Workers’ compensation coverage
  • Errors and omissions liability
  • Commercial property liability

Understanding the Options

By dedicating time and effort to researching your options with insurance, you will have a better understanding of which choice is right for you. Take time to look into the details and see what steps you need to take for success.

Preventing Subcontractor Insurance Fraud

Workers’ compensation insurance allows you to take care of your employees if they are injured, and you rely on your subcontractors to provide that protection to their employees. Unfortunately, if you’re working with a new subcontractor you don’t know well, there’s a chance that certificate of insurance isn’t worth the paper it’s printed on, potentially leaving you liable for workplace injuries to their employees. Protect your finances by preventing subcontractor work comp fraud.

Verify the COI and Company

When you receive a subcontractor COI don’t file it away without a second thought. Make sure it’s on the ACORD 25 form, indicated on the lower left-hand corner. Nothing should be handwritten except the signature. Verify that the insurance company information is correct, that the company is legitimate and the company’s rating is an A on ambest.com.

Verify Active Coverage

Besides checking the policy dates on the COI, verify that coverage remains active. Audit your sub’s insurance regularly during a project and before releasing final payment. If necessary, contact the insurance company or ask to be a named insured so you’ll receive notice of cancellation.

Ask for the Policy

Finally, ask for a copy of the policy so you’ll have details on coverage levels and carveouts of which you need to be aware. Make sure the provisions you’ve required actually exist.

Blank COIs are easily available online. Make sure you aren’t the victim of subcontractor work comp fraud by taking an active role in insurance verification.

Identifying and Preventing Condo Association Conflicts of Interest

Condo associations are typically made up of volunteers who come from all walks of life. It’s no surprise that conflicts of interest can arise without the board understanding how to avoid them and the potential repercussions of not taking them seriously. Education and a good liability policy can prevent and mitigate potential condo association conflicts. Here are three things your board should look out for to prevent lawsuits or even the whiff of impropriety.


It’s natural for board members to think of family members when work comes up or the board needs a new member. Unfortunately, it’s nearly impossible to give work to a family member, even if you recuse yourself from voting. Avoid working with any board member’s family whenever possible.

Performing Paid Work for the Association

Besides family, consider your own work and keep it separate from your association duties. Whether your company does landscaping or you want to offer to underwrite its insurance, you can’t do both jobs impartially.

Placing Personal Gain Above the Good of the Owners

Whether it is smokers voting to allow smoking in public areas or one board member voting against higher maintenance fees because he’s selling his property, any time a board member puts his own gain above the good of the group, there’s a conflict of interest.

Your board should have a conflict of interest policy in place that clearly defines what it is and what needs to be done to avoid it. Board members should immediately provide full disclosure when they realize there is a potential conflict.


Adding Attached Equipment to Your Vehicle Policy

As a general contractor, your van or truck is a vital part of your business. It carries the equipment and tools you need to get a job done and get paid. Are you confident the equipment attached to your vehicle is insured?

Be Certain You Are Protected

What happens to an attached toolbox or ladder that gets damaged in the event of an accident? You may have assumed that was a part of your policy, but you better be sure. Insuring permanently attached equipment is important to understand when it comes to protecting your business assets.

What You Should Insure

If you attach work equipment to your vehicle or purchase a new one fully loaded, take notice of each piece in order to protect the overall value. As well as a ladder or toolbox, you can also protect the following in case of damage:

  • Racks
  • Shelving
  • Spotlights
  • Grill Guards

Verify Your Protection

If you are not sure whether or not your permanently attached equipment is included in your original policy, don’t delay another day and call your agent. Verify what equipment can and should be insured to protect against financial loss.

As a contractor, your vehicle is a part of your business. Protect your assets so you don’t lose out on thousands of dollars your business needs.

AXIS_A Guide to DO Litigation

Individuals serving as directors and officers (D&O) for any business can be held personally liable in certain instances if the organization they work for is sued. D&O litigation cost can be astronomical, so it may be wise to consider obtaining some insurance to offset the potentially steep costs.

What To Know

D&O liability insurance covers certain entities and certain people working for them in the event that they are sued. Directors and officers are covered for any personal losses under these policies. Additionally, the entity for which they work will be covered for legal fees and any other D&O litigation cost. Most policies will not cover fees associated with fraud or criminal activity. Typically an organization seeking $1,000,000 will pay between $5,000 and $10,000 in insurance premiums for D&O liability insurance.

Types of Coverage

There are three different types of coverage for D&O insurance. The first type, Side A coverage, covers directors and officers in suits where the company either cannot or will not pay for indemnification. Side B coverage covers the losses of those individuals when the organization refuses to grant indemnification. Side C coverage is also known as entity coverage and provides coverage for the business entity.

Since costs associated with D&O lawsuits can soar sky-high, it would be beneficial to many businesses to consider D&O liability insurance.